It is my pleasure to welcome you to the 11th Annual General Meeting (AGM) of ourCompany.
A few weeks ago the NDA Government led by the Hon'ble Prime Minister Shri NarendraModi completed four years in office. On all counts it has been an eventful journey. Therollout of the much-awaited Goods & Services Tax the radical step to demonetizehigh-value currency the large-scale mobilization of Jan-Dhan Yojana the Direct BenefitTransfer scheme the rapid progress in highways and electrification are undoubtedlyexamples of inspired action towards progress. The spirit of competitive federalism hasalso spurred State Governments to closely examine the ease of doing business. This in turnshould positively impact the investment climate.
In an effort to boost the agriculture sector the Indian government has set anambitious goal to double farmers' income by 2022. It would require integrated value chainsthat connect farm to fork competitive markets that provide better prices to farmers andan enabling environment that supports innovation and action. From the crop life cycle tofood in consumer's plate farmer's play a major role.
As a Company doing business with farmers we take responsibility in improving therealizations of agriculture produce and ultimately the farmers' lives whilesimultaneously enabling the country's agricultural growth.
It has been more than a decade we are working towards becoming one of the mostresponsible and organized Agriculture Company. We had started with a vision to integratemultiple disciplines including supply of fruits and vegetables warehousing manpowerservices pack house and cold storage in due course. We strongly believe that in everychallenge lies an opportunity. It has been so far an exciting journey in terms of valuecreation satisfaction and confidence for all stakeholders viz. employees customerssuppliers banks and society at large considering our contribution to employmentgeneration and Government's revenues.
We are delighted to update you of our first full successful year post the IPO of yourCompany . As you all know that our new Journey begun on 31st March 2017 with successfullisting of your Company on Bombay Stock Exchange i.e. Asia's oldest & largestexchange. The Financial year 2018 went by was extremely delightful & encouraging forthe parameters including business growth financial performance team building &farmers reach creation. Many more mile stones and achievements have taken your Company tonew height and league.
On customer and service front:
We continue to remain engaged in building portfolio of scalable businesses leveragingenterprise strengths new locations and existing clients. There has been an immenseinternal drive and focus to carefully nurture competencies. As the business opportunitiesare expanding and we are in constant search of exploring the new ones there is burningdesire to make them count. Over the years there has been increase in the type of servicesi.e. from Fruits & Vegetables aggregation to distribution cold chain facilities offew products to numerous products warehousing and C & F Services manpower handlingand management services packaging services sorting & grading services. In the comingyears we Plan to add many more services relating to agro and other allied products andproducts in which the company has core competency or the company is developing the newproficiency.
By and large customer satisfaction and a strong customer base over long term andcontinuous business expansion from our basic strategy.
On Supply Chain and Continued & Timely Supply-Source Front:
The continuous timely and reliable supply are the pillars of our business and withthis conscious thinking we are constantly increasing the raw material supply sources. Weare putting persistent efforts towards tapping the right source of materials throughdirect farm visits across the country owning/ leasing farms assisting farmersfinancially or through technical guidance related to basic infrastructure facilitiesproviding scientific inputs and educating farmers for improving yield and cultivationarea direct sourcing the materials from the market and such other measures. We have beentying up with many farmer groups NGOs and FPOs for the long-term association to ensureconsistent raw material supply.
At PCSL we are putting relentless efforts to adopt the state-of-the-art technologyavailable to improve and expand our services levels and the same will continue in thefuture as well. Our resilient connect with APMCs farmers exporters whole sellersretailers and food processor shall help us to reach new altitudes over the coming years.It is indeed gratifying to witness a fulfilling journey of an enterprise that is so deeplymotivated by its commitments to create value for all stake owners and the society atlarge.
On the back of a strong growth agenda for the present year the management believesthat we are entering multi-year growth cycle. We continue to build our organizationalcapabilities while developing new ventures in business adjacencies in order to ensuresustained growth over the next 5-10 years.
We thank all shareholders and other stakeholders in our endeavor to serve the largerfarming community so as to create shared value.
I am taking pride in informing that our Company's leadership team follows a solutiondriven approach in maximizing the output for a given input.
Mr. Jinen Ghelani
Chairman Managing Director & CFO